Layoffs as Tool to Clear Out Manpower Inventory - Perella Weinberg Partners Reported to Embracing that Tactic

"Perella Weinberg Partners is trimming about 7% of its headcount to free up funds for hiring top banking talent, according to a person with knowledge of the plans." Yahoo Finance, June 15, 2023

Many consider layoffs as a signal of a business' financial distress. In fact, in professional services such as law leaders of firms tend to back off from reductions-in-forces because those could indicate things are not going well. Clients could be scared, wondering if the firm is solvent and continue with their assignments. Prospects could seek out other firms which appear more financially stable. 

Actually, though, swinging the ax can serve as growth tool. In a sense, reductions-in-force clear out the manpower inventory. That makes room for parachuting in the kind of human assets required to move the dial on growth. Overall, the business isn't in peril. A more accurate way of sizing up its situation is that it’s in transition.

The challenge is for firms announcing reductions-in-force to get the growth story out and believable. They should explain that operations, along with technology, call for different skill sets. And, of course, they should provide concrete examples. That’s the oldest fundamental in communications: Show, don’t tell.

On a human level, those terminated have to avoid taking the decision personally. Capitalism is a brutal economic system. Often the ordeal of a career change is the Next after being laid off. Here is my article, published in O'Dwyer PR, on the difficulty of that process. Rarely is it an "adventure." 

Where are you in how you make your living? Or in your job search? Intuitive career coaching offers you a new way to go about it. That menu of services includes Tarot Readings. Take advantage of a complimentary consultation. Schedule an appointment with Jane Genova (janegenova374@gmail.com or text 203-468-8579).

Genova and Associates also provides Human Resources communications, ranging from white papers to thought-leadership articles. You will differentiate yourself from the competition. Let’s talk (janegenova374@gmail.com or text 203-468-8579).

 

 


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